The common shares were acquired pursuant to California Gold's private
placement of common shares at a price of $0.05 per common shares. The
common shares are listed on the TSX Venture Exchange. The total
purchase price paid by the Shareholder was $150,000. Prior to the
completion of the acquisition, the Shareholder held 18,400,000 common
shares of California Gold.

There are approximately 151,782,620 common shares of California Gold
issued and outstanding. As a result of this acquisition, the
shareholder has beneficial ownership of, and control and direction
over, 21,400,000 common shares of the issued and outstanding common
shares of California Gold, and has beneficial ownership of, and control
and direction over, 9,650,000 common share purchase warrants, that if
exercised, together represents approximately 19.23% of the total issued
and outstanding common shares of California Gold.

The Shareholder acquired beneficial ownership of, and control or
direction over, the common shares pursuant to the offering for
investment purposes. The shareholder acquired the common shares for
investment purposes and has no present intention to acquire additional
securities of California Gold but may acquire additional common shares
in the future.

The common shares acquired pursuant to the offering were issued under
the exemption from prospectus requirements set forth in section 2.3 of
National Instrument 45-106 on the basis that the Shareholder is an
accredited investor.

This news release is issued pursuant to National Instrument 62-103 - The
Early Warning System. A copy of the Early Warning Report will appear
with California Gold's documents on the SEDAR website at www.sedar.com.

SOURCE R.W. Tomlinson Ltd.

For further information:

A copy of the Early Warning Report may also be obtained by contacting Michael Churchill California Gold's President at 647-977-9267 x101.